Asian markets trade in red in early deals on Monday
KOSPI Index plunge by 331.45 points or 5.73% to 5,449.75
Asian markets traded in red in early deals on Monday, with the woes over potential economic ramifications and energy crisis as the intensifying war in the Middle East enters to the fourth week. Crude prices remain elevated as a 48-hour US strike threat against Iranian energy infrastructure clashes with Tehran’s warning to shutter the Strait of Hormuz, sparking fears of a major global supply disruption. South Korea’s Kospi plunged the most among Asian markets pressured by energy-driven inflation and shrinking corporate margins with the country's heavy reliance on oil imports. While Japan’s Nikkei tumbled to two-month low level and China’s Shanghai hits its three-month low. Stock markets of Indonesia and Malaysia were closed on account of holiday.
Nikkei plunged by 1,913.53 points or 3.59% to 51,459.00, Straits Times wilted by 104.07 points or 2.10% to 4,844.80, Hang Seng tumbled by 884.32 points 3.63% to 24,393.00, Taiwan weighted trimmed by 860.22 points or 2.56% to 32,683.66, KOSPI Index bearish by 331.45 points or 5.73% to 5,449.75, and Shanghai Composite curtailed by 98.87 points or 2.56% to 3,858.18.
